Asia: Mounted Lens Market 2022

Mounted Lens Market Size in Asia

In 2021, the Asian mounted lens market increased by 18% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption saw a resilient increase. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Mounted Lens Production in Asia

In value terms, mounted lens production expanded rapidly to $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.7% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 47% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Mounted Lens Exports

Exports in Asia

In 2021, the amount of mounted lenses, prisms and mirrors exported in Asia soared to X tons, surging by 26% compared with the previous year's figure. The total export volume increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, mounted lens exports surged to $X in 2021. Total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) was the largest exporter of mounted lenses, prisms and mirrors, making up 35% of total exports. Japan (X tons) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (14%), Thailand (10%), Taiwan (Chinese) (5.9%) and Hong Kong SAR (4.5%). South Korea (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +4.4% from 2012 to 2021. At the same time, Singapore (+26.9%), Thailand (+26.8%), Taiwan (Chinese) (+9.9%) and Hong Kong SAR (+2.8%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia, with a CAGR of +26.9% from 2012-2021. By contrast, Japan (-4.0%) and South Korea (-12.7%) illustrated a downward trend over the same period. Singapore (+12 p.p.), Thailand (+8.7 p.p.), China (+4 p.p.) and Taiwan (Chinese) (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Japan and South Korea saw its share reduced by -12.6% and -15% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Singapore ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 64% of total exports. These countries were followed by Taiwan (Chinese), Thailand, South Korea and Hong Kong SAR, which together accounted for a further 29%.

In terms of the main exporting countries, Thailand, with a CAGR of +39.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, growing by 23% against the previous year. Export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the export price increased by 24%. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+10.8%), while the other leaders experienced more modest paces of growth.

Mounted Lens Imports

Imports in Asia

After two years of decline, supplies from abroad of mounted lenses, prisms and mirrors increased by 53% to X tons in 2021. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, mounted lens imports soared to $X in 2021. Overall, imports showed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 43%. The level of import peaked in 2021 and is likely to see steady growth in years to come.

Imports by Country

In 2021, South Korea (X tons), China (X tons), Vietnam (X tons), Hong Kong SAR (X tons), the United Arab Emirates (X tons) and Japan (X tons) represented the largest importer of mounted lenses, prisms and mirrors in Asia, mixing up 75% of total import. The following importers - Thailand (X tons), Singapore (X tons), Taiwan (Chinese) (X tons), the Philippines (X tons), Israel (X tons), Malaysia (X tons) and Indonesia (X tons) - together made up 21% of total imports.

From 2012 to 2021, the biggest increases were in the United Arab Emirates (with a CAGR of +43.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported mounted lenses, prisms and mirrors in Asia, comprising 38% of total imports. The second position in the ranking was held by South Korea ($X), with a 16% share of total imports. It was followed by Vietnam, with a 13% share.

In China, mounted lens imports increased at an average annual rate of +14.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+18.4% per year) and Vietnam (+23.7% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, reducing by -12.5% against the previous year. Import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, mounted lens import price decreased by -13.5% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 18% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+10.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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